To: Hawkmoon who wrote (1159 ) 6/24/1998 6:23:00 PM From: Alf Read Replies (1) | Respond to of 6180
Ron Nope not following the AT&T adt TCI at all (ya right) AT&T-TCI Deal Targets Consumer Market (06/24/98; 12:43 p.m. ET) By Margie Semilof, Computer Reseller News Competition in business communications is changing fast for AT&T, but by merging with consumer cable giant Tele-Communications Inc. (TCI), the carrier is sure to lock up nearly one-third of the nation's residential customers. The all-stock deal announced Wednesday, valued at about $68 billion by AT&T (company profile) CEO Michael Armstrong, is aimed at delivering soup-to-nuts communications services to consumers from a single source. The deal is expected to close sometime in 1999. Armstrong said earlier reports that the deal was worth $48 billion underestimated the complete value of the transaction. "This represents AT&T going on the offense, for local exchange, for broadband, and for service," he said. Armstrong said despite exciting changes in the industry on all levels, AT&T was not doing enough to participate. What we realy need is something to compete with WSU and have ben in talks with MSU to provide that solution. He said in this market, AT&T needs a facilities-based strategy, to control access to its markets and customers, and to be able to control its own costs. Following the merger, Armstrong said AT&T [T] immediately will begin upgrading the company's cable infrastructure. TCI [TCIVA] already has spent half of the $1 billion it earmarked for its cable plant upgrade for two-way digital and telephony, said TCI president Leo Hindery Jr., adding that the company will work quickly to complete the job. The merger will create a new division within AT&T called Consumer Services, with total revenue of about $33 billion and 60,000 employees, AT&T said. The company in effect will be redivided into three companies: Consumer Services, the wholesale business, and the business-services companies. The Consumer Services company will sell telephony service, wireless, long distance, and international communications, as well as entertainment and Internet connectivity. Executives from both companies said they doubted there would be difficulty getting government approval for the merger. "This helps fulfill the purpose of the Telecommunications Act [of 1996], which was to engender competition," Armstrong said. "We don't anticipate this will be a rough road." Hindery will become president and chief operating officer of AT&T Consumer Services. AT&T president John Zeglis will become CEO of the unit. And TCI chairman John Malone will become a member of AT&T's board of directors. You do realise that I put that part in but when the hell are these Co.'s going to realise the impact on revenews that MSU could provide ! Give the box away- charge 19.95 per month - set it up so that it opens on the same page- charge for advertising on that page. ect. ect. Good luck Tim